TOKYO, JAPAN — Staffing firm Persol Holdings has branched out to furniture rental services through its acquisition of manufacturing firm Class Technology Co. (Class Co.).
The acquisition was coursed through Persol Venture Partners LLC, Persol’s corporate venture arm. The venture company invests in companies to broaden its headcount to over 1,000 workers, effectively boosting employment in Japan.
Class Co. develops software for manufacturing firms. The Tokyo-based firm’s platform provides furniture and home appliance rental/subscription for corporations and individuals.
Its clients include Hitachi, Ltd., Horiba, Ltd., Mitsubishi Heavy Industries, Ltd., NEC Corporation, Oki Electric Industry Co., Ltd.
Persol noted that its rental service contributes to the economy and promotes a decarbonized ecosystem.
According to its CrunchBase profile, Persol Holdings has made 17 investments from 2014 to 2023 in multiple industries, including human resources, fashion, education, the internet, and software.
Persol’s latest investment on record is in Smartstaff, an India-based staffing platform for blue-collar workers.
The company also helped raise $50 million in Series D funding for recruitment platform Glints. Other investors include CM Ventures and Lavender Hill Capital.